Health Care Sector Update for 12/28/2018: ALNY,IMMU,APHA,APHA.TO,VTVT
Top Health Care Stocks
Health care stocks rose to finish a holiday-shortened week, including a nearly 0.3% gain for the NYSE Health Care Index in late trade. Shares of health care companies in the S&P 500 also were up about 0.1% as a group while the Nasdaq Biotechnology index was slipping almost 0.2%.
Among health care stocks moving on news:
(+) Alnylam Pharmaceuticals ( ALNY ) received a nearly 3% boost on Friday after the genetic therapies company said it would provide preliminary Q4 sales levels for its Onpattro drug treatment for hereditary transthyretin-mediated amyloidosis on Jan. 7 at the J.P. Morgan Healthcare Conference in San Francisco. Federal regulators signed off on U.S. sales of the small interfering ribonucleic acid as a treatment for nerve damage caused by the genetic neurodegenerative disease on August 10.
In other sector news:
(+) vTv Therapeutics ( VTVT ) was more than 120% higher shortly before Friday’s closing bell after it exercised an option requiring the MacAndrews & Forbes Group to buy 815,217 shares of its class A common stock at $1.84 per share, representing a nearly 79% premium over Thursday’s closing price for vTv shares. vTv and the holding company owned by billionaire investor Ron Perelman announced a $1.5 million funding agreement on Dec. 11.
(+) Aphria ( APHA ) was 12% higher Friday afternoon, staying within relatively close range of its 14% peak, after Green Growth Brands went public with a CND2.8 billion takeover bid for the marijuana company. Under terms of the proposed buyout, Green Growth would swap 1.5714 of its shares for each Aphria share, representing a 45.5% premium over Aphria’s closing price on Dec. 24.
(+) HTG Molecular Diagnostics ( HTGM ) climbed 8% in recent Friday trading, reversing a 7% opening decline, after the company late Thursday unveiled plans to raise up to $150 million through the sale of its stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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